Price T Rowe Associates Inc. MD Sells 4,120,363 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Price T Rowe Associates Inc. MD reduced its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 64.7% during the third quarter, Holdings Channel reports. The institutional investor owned 2,243,890 shares of the company’s stock after selling 4,120,363 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Bath & Body Works were worth $73,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBWI. Third Point LLC purchased a new stake in shares of Bath & Body Works during the third quarter worth about $265,201,000. Renaissance Technologies LLC boosted its holdings in shares of Bath & Body Works by 114.0% during the second quarter. Renaissance Technologies LLC now owns 3,778,033 shares of the company’s stock worth $101,705,000 after purchasing an additional 2,012,700 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bath & Body Works by 34.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,830,984 shares of the company’s stock worth $135,321,000 after purchasing an additional 726,384 shares during the period. Deutsche Bank AG boosted its holdings in shares of Bath & Body Works by 42.8% during the second quarter. Deutsche Bank AG now owns 2,038,936 shares of the company’s stock worth $54,888,000 after purchasing an additional 611,456 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Bath & Body Works by 30.4% during the second quarter. Millennium Management LLC now owns 2,540,557 shares of the company’s stock worth $68,392,000 after purchasing an additional 592,417 shares during the period. 96.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BBWI shares. Wells Fargo & Company lowered shares of Bath & Body Works from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $55.00 to $46.00 in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bath & Body Works from $55.00 to $47.00 in a report on Friday, February 24th. Raymond James lowered their price objective on shares of Bath & Body Works from $52.00 to $50.00 and set a “strong-buy” rating for the company in a report on Friday, February 24th. Telsey Advisory Group restated an “outperform” rating and issued a $52.00 price objective on shares of Bath & Body Works in a report on Thursday, February 23rd. Finally, Argus raised their price objective on shares of Bath & Body Works from $45.00 to $50.00 in a report on Wednesday, December 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bath & Body Works currently has an average rating of “Moderate Buy” and an average price target of $49.52.

Bath & Body Works Trading Down 1.8 %

NYSE:BBWI opened at $36.60 on Tuesday. Bath & Body Works, Inc. has a 12 month low of $25.75 and a 12 month high of $58.17. The company has a market cap of $8.36 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.01 and a beta of 1.77. The company has a 50 day simple moving average of $43.71 and a two-hundred day simple moving average of $39.62.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 3rd. Stockholders of record on Friday, February 17th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, February 16th. Bath & Body Works’s dividend payout ratio is presently 23.19%.

About Bath & Body Works

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Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.